Listing a Property Going through Probate
If you are the Executor or Administrator of an estate property that’s going through probate, it is recommended that you seek out a REALTOR® that has experience in this area. There are unique considerations and dynamics in selling a probated property, which is the legal process following a homeowner’s death, where the property either transfers ownership to someone or is sold.
The Katie Laws Group has years of experience in handling such transactions and they can assist you, the seller, every step of the way.
To assist you in understanding how to handle a probated property, we have put together the following information:
Basic Probate Real Estate Process:
- Appointment of an Executor of the estate: Often, the Executor is named in the dependent’s will, or the court will appoint an administrator to name one.
- Property Appraisal: If the property is to be sold, the Executor will determine a listing price for the property in question. The Executor may use the assistance of the REALTOR® to determine sales price, or an appraisal of the property may be conducted.
- Property listing: Once the listing price is determined, the property will be placed on the market. The property will be marketed like any other home.
- Approval and sale: Once an offer is received, the real estate agents will negotiate the terms with the approval of both parties. An official notice will be mailed to all heirs of the estate. If there are no objections, a court date will be scheduled where the sale of the house will be officially executed.
For further information regarding Oklahoma probate law and the necessary steps in selling probated property, please consult with an attorney who specializes in this area of the law. Once you have taken this step, we are happy to further discuss the specific selling of your property that is in probate.
Please contact:
Katie Laws, Realtor®
Providence Realty
TXT or call: 405.803.8589
katie@providencerealtyok.com